Orange County, California, is seeking to raise $320 million by selling taxable pension-obligation notes, Bloomberg reports. The securities, which will be maturing in around 16 months, will be sold to Orange County Investment Pool managed by the county’s treasurer. The county, which seeks $3.7 billion for its $10 billion pension fund, will use the proceeds to pay its annual pension fund payment ahead of schedule, qualifying for a discount of about 7.75%. The note sale, if approved by the county board of supervisors, is expected in March.

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